Energy Independence & Security Act of 2007

RFA - Resource Center - Renewable Fuels Standard

On December 19, 2007, the Energy Independence and Security Act of 2007 (H.R. 6) was signed into law. This comprehensive energy legislation amends the ... click here

Small Ethanol Producer Tax Credit - Internal Revenue Code 'Section 40" Tax Credit

Under Section 40(b)(3) of the IRC, ethanol producers that manufacture less than 60 million gallons of ethanol per year qualify for a tax credit equaling 10 cents per gallon on 15 million gallons of fuel ethanol. The maximum incentive is $1.5 million annually. The American Jobs Creation Act of 2004 (P.L. 108-357) modified the Small Ethanol Producer Tax Credit by allowing the $1.5 million credit to be passed-through to farmer owners of ethanol cooperatives. The Energy Policy Act of 2005 (EPAct 2005, P.L. 109-58) made further modifications to the tax credit. EPAct 2005 amended the definition of a "small ethanol producer" from 30 mgy of ethanol production to 60 mgy of ethanol production. This tax credit is on the books through December 31, 2010.


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